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, the possibility that the new president or president obama names three seats to the supreme court three security justices. a lot at stake. >> an important day tomorrow. hope you can get out and vote, whichever way you're going. right now we're heading toward the close with a ten-point gain. again, remember that level i gave on you the dow, 1390.84. we'll explain the significance coming up. >> stick around, a lot more to come on "closing bell." >>> coming up. investing on the elections. are candidate romney's fiscal views the same as a president romney's would be? we get the view from wall street straight ahead. >>> plus, running for home. housing has been the forgotten sector this season with prices actually lower now than when the president took office. we debate where the value of your home is headed after election day, no matter who wins. >>> and could how the stock market finishes today actually determine who wins tomorrow? don't scoff. wait until you see the facts that back that up. that's all ahead on the "closing bell." looking for a better place to put your cash? here's one you may not h
or obama victory is not going to solve the corporate profits problem. one theory out there, and we'll test if this is true, is perhaps a romney win would unleash some of the corporate spending we haven't see. that's a theory right now. i would like to be proven wrong. >> brian, what about that? if we were to see clarity tonight then we do, in fact, get that money that's on the sidelines loosened up and looked toward job creation? >> well, from a corporate standpoint, yes, maria, because most u.s. corporations are sitting on cash. as you saw profit margins hitting all-time highs. they're clearly not hiring a lot. at the end of the day, this whole economy and the stock market is about jobs. the market could be up even more if we start to see some job creation, but we can't be bidding stocks higher unless we start to see some in flows from our private client friends, who by the way, don't buy bond funds. we still think there's a lot of work to do on the investment side in terms of building further fundamental clarity with respect to the option of buying equities versus selling them. >> so you
into the market heavily. not until then. >> okay. jeff, in the meantime, you believe with obama remaining in position that ben bernanke's job is safe for the foreseeable future and that is inflationary, yes? >> i think the fact that we've had inflation, core inflation, outside of core inflation, food and energy prices have accelerated in the obama administration. ben bernanke has failed to realize it as inflation. it's a big concern. now we're going to begin to see the acceleration of inflation based on the fact that now he has full reign. this is going to prove to be his show. >> how are you going to play that, jeff? >> we recently scaled back on gold, but i'm not long-term bearish on gold by any means. i believe we're going to get an opportunity to make money in gold. i built up a significant cash position. i missed a good part of the rally. at this point, i don't want to participate in this type of market, protecting against inflation. being in commodities makes a lot more sense. >> bill, let me say one thing quickly. jeff is exactly right, but don't forget, there's going to be a lot l
president obama and house speaker boehner had to say earlier today, it is clear that investors are not expecting a quick fix. look at the major averages, which are lower since the president spoke two hours ago. the dow is up ten points. it was up 78 at high. down 67 now, up to 12,822. the nasdaq powered higher today by apple. there it goes again. we'll talk about that in a little bit. up 15 points on the nasdaq now at 2910. the s&p 500 index is up about five points at 1382. the market certainly didn't like what the president had to say at 1:00 eastern time. the dow was in positive territory when he began speaking. as you can see from the chart, as the speech progressed, the dow started to fall. it did rebound a bit after the speech was over, but we have been heading lower again as we go into the final hour here. in today's "closing bell" exchange, dan mcmahon from raymond james is going to join us. also, john from gfi group. our senior economics reporter, steve liesman, and our own rick santelli. john, it is clear that the fiscal cliff has wall street's full attention right now
of the nation's top business leaders set to meet president obama at the white house. there's a live shot of it. up next, we're joined by one ceo who says stop all the tax hike talk, we have a spending problem. that's what matters most. >>> plus, rising above the rhetoric. we hear from one republican who says the best way to fix the debt is to cut spending and raise taxes on the rich. >>> and later, don't look now, but the tax benefits from your 401(k) could be on the chopping block as part of a broad fiscal cliff deal. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every da
geithner. we'll hear from someone who says the best candidate to succeed him just met with president obama yesterday. trust us when we tell you it's not a name you've heard before for this job. >>> meanwhile, the parade of companies offering special dividends ahead of the cliff keeps getting bigger. why this boom for shareholders may turn into a bust for others. we'll explain when we continue on "the closing bell" for this friday. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander
about 40 points. president obama's touring sandy's devastation in new jersey. could his leadership during the storm give him an edge on the election? donald trump a big supporter of mitt romney will join us and weigh in on that. >>> then, how much will sandy end up costing the insurance industry? aig ceo robert benmosche is with me in an exclusive. stay with us. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposi
gestures from president obama and house speaker john boehner towards solving the nation's fiscal mess? >> we're ready to be led. not as democrats or republicans, but as americans. >> our good old-fashioned bull/bear debate is straight ahead. >>> and deconstructing disney. it's a first-on interview with the magic kingdom's chief bob iger, and his thoughts on earnings and the multibillion dollar deal for lucasfilm. >> it will be a day long remembered. >> that's all ahead on the "closing bell." ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013 lexus ls. an entirely new pursuit. >>> this just occurred to me this morning. do you know that thanksgiving is two weeks from today? >> man. >> it's all upon us. if you're already dreading spending all day with your extended family, fear not. walmart is coming to the rescue. it's announcing it's going to open its doors at 8:00 p.m. >> how is that going to fly with your family? >> who's going to watch football now? >> that's a four-hour head start for black friday. do we want
's, you know -- president obama called it a sketchy deal. i think there's a lot of kabooky math going on here. i don't think middle income earners should only have to get one income tax credit. it only goes up to $25,000, which means a lot of people would only be able to do one income credit and would have to give up others. >> first of all, the $25,000 is just a made up number at this point. it's not settled on. second, it was coupled during the campaign with governor romn romney's hope of further tax breaks across the board, which is not likely to happen. don't you agree that just by itself the bucket of deductions would give congress something to hide behind because they don't have to pick and choose? they let the taxpayers choose it. as robert frank pointed out, it raises money. >> i don't think the taxpayers and people that voted in the election want congress to hide behind anything. i think we voted for a platform that wants taxes raised on high-income earners. that's what we voted for, and that's what we want. we don't want any copouts. we don't want congress to be able to hide
, president obama held his first news conference since being re-elected. he then met with business leaders to talk about the fiscal cliff, which of course was a big topic at news conference. this question and answer was significant. listen to this. >> you said that the wealthiest must pay more. would closing loopholes instead of raising rates for them satisfy you? >> i think there are loopholes that can be closed and we should look at how we can make the process of deductions, the filing process easier, simpler, but when it comes to the top 2%, what i'm not going to do is to extend further a tax cut for folks who don't need it. >> well, that means that the president seems to want to raise tax rates and remove deductions regardless. so what does the top man at one of the biggest and most successful private equity companies think about that? he's here to talk about it. george roberts is the cofounder and co-chief executive of kkr. so nice to have you on the program. >> thank you. >> thank you so much for joining us. what's your take on that? when you hear the president dig in and say, yes, w
spending. that's what we need to focus on, not raising taxes on the american people and of course, obama's tax increases are there, but he hasn't put any spending restraint on the table. we look forward to seeing what he might be thinking of. >> mr. norquist, if you had to put money on it, do you think we're going to go over that cliff? >> well, it depends. i think if we can have these negotiations in front of c-span cameras, not in hiding, this is what the president promised four years ago he would do. he's not yet done it. let's get the c-span cameras in there. two, whatever they agree to should be put online for the american people, not just the lobbyists in washington, but the american people so they can see it for seven days before anybody's asked to vote for it. if we have transparency and honesty, we'll have a much better end deal. >> is that going to happen? i'm going to quote you on this. this is your wish list. is that going to happen? >> that's not going to happen. >> actually, i think it will happen. the good news is the president is on a sugar high from winning the election.
to read the market as an indicator should have been the most enthusiastic supporters of the obama administration since the market doubled from march of 2009 when the president was just taking over until a couple weeks ago. i don't remember people saying e o', look at the market, how wonderful obama must be. secondly, i think what you're seeing now is an artificial depression in the market because of the uncertainty. i believe that it does not reflect an erosion in fundamentals. in fact, i think the economy has been doing reasonably well, particularly our economy compared to some of the rest of the world. there's some uncertainty about europe. it is important for us to deal with the tax and sequestration issues. i believe that once we have done those, this drop will come back up. that is, i think this is an understandable reaction to the uncertainty, not a serious sign of a decline in the economy. >> absolutely. you're absolutely right. i think it's all about this uncertainty about where tax rates will be. what are the odds we're going to see a deal before year end to give this mar
? >> it all depends on how it gets resolved. if obama gets his way, and we get big tax increases on small businesses, but also increased double taxation of dividends and capital gains, we'll have a less friendly economic environment for investment to car inside the united states. and that would mean an incentive for companies not to conduct business here. maybe to expand their branchs and their operations overseas. yes, there's the short-term uncertainty in the fiscal cliff that's hurting, but then i actually agree with michael. it's long-term fundamentals that matter. our government is just too much of a burden. >> steve, what's at stake here? >> i want to talk about two scientists from two different fields. one is pav lolov. a dog would salivate when you put food in hem. ed prescott took that idea and said, you know what, when companies spend, they spend after and during recessions when they can count on getting r&d tax credits from the government. they become conditioned to wait for lousy times for that spending to happen. that's a problem we have with our tax code, which seems to chan
together to get this economy going again. and that president obama has shown a path that we can trust and that mitt romney is not offering anything but the failed economic policies of the past, which say that the top 1% in this country should not pay their fair share. we reject that vision for america. >> let's not forget the 47% that don't pay any tax, right? >> that's also an inaccurate statement. >> 47% of this country does not pay income tax. that's not an inaccurate statement. at all. that's a fact. >> but they pay sales tax. there's lots of taxes that people pay. >> i'm talking about the federal income tax. >> right. that's right. but how is it that you think we can get this country going again if we don't have more investment like we did in the boom economy after world war ii where the wealthy and corporations were paying a lot more in order to make our country great. i think this nation is ready to return to the kind of greatness that we've seen before. >> we will see on tuesday. thank you so much. >> mary kay, thank you for joining us. >> of course, the big election tuesday.
is red hot. we'll deconstruct whether this hal rally can continue. >>> president obama vowing to veto any fiscal cliff bill extending tax cuts for people making more than $250,000. was that posturing? is that number about to become $1 million? with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. shares of d.r. horton down 5% despite earnings that actually beat this morning. cautious comments from the ceo about the economic outlook weighs on the shares today. is the long run for home builders nearing an end? we've seen a big move in these stocks this year. what do d.r. horton's results mean for toll brothers. on the technical side, carter worth with oppenheimer and on the fundamental
? >> the problem is they don't have any leverage right now as we speak. i mean, president obama just won a decisive election. democrats increased their majority in the senate. the tax rates are expiring. if these tax rates weren't expiring, republicans could hold out for genuine tax reform. i think they need to get ahead of this situation. why not lock in the current rates for everybody under a million and live to fight another day? i think there's more likelihood they'll be able to get genuine tax reform next year if they lock in everybody under a million right now when they have their backs against the fiscal cliff. >> but that's not what they're doing. we doncontinue to see everybody digging in. why should republicans allow the tax increases for highest earners, and why should dems give in on the spending cuts the republicans want? what is it going to take to get these two sides together? >> the democrats should give in. the fact is they should give in because we have an actual fiscal crisis. we have a real debt ceiling. that's the national debt. this is going to, what, chip away 7% of the defic
on spending. we need to get president obama and senate democrats to say what spending they'll cut and how to change entitlement. >> did you hear what jay carney said in the last few minutes? he said social security, by the way, off the table. we're not going to discuss this while we do the fiscal cliff discussions. i mean, we're already there. raising taxes but not cutting spending. >> and that's exactly the point. >> social security is funded separately. it has it's own line item, it's a separate bill -- >> until the money runs out? then what do we do? >> that's not the point right now. >> it is. >> no, it's not. you won't solve those problems by going after the fiscal cliff. >> the only thing derailed is the conversation on what matters. what matters is spending. we have a debt crisis coming done the line. because we're spending too much. yet no one wants to talk about spending. we're talking about where can we raise taxes? raising taxes doesn't lower the deficit at all when you add it up. we need to cut spending. the senate democrats are not helping. >> the fiscal cliff started before
Search Results 0 to 16 of about 17

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